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#Howitworks
Have you ever wondered how @anchor_protocol works? And how it captures value to $ANC?
Thread
1/ Besides a lending & borrowing protocol, Anchor is apparently “traditional bank”, which provides fixed rate of 20% APY in Crypto space.
Have you ever wondered how @anchor_protocol works? And how it captures value to $ANC?
Thread
1/ Besides a lending & borrowing protocol, Anchor is apparently “traditional bank”, which provides fixed rate of 20% APY in Crypto space.
2/ There are 2 kind of users here:
Lending: Supply UST to Anchor to receive APY.
Borrowing: Supply bLUNA as collateral to get UST.
Lending: Supply UST to Anchor to receive APY.
Borrowing: Supply bLUNA as collateral to get UST.
3/ Let’s dig into the Anchor:
(1): LUNA -> mint bLUNA
(2): bLUNA as collateral -> mint UST
(3): LUNA from (1) will be Stake to receive APY
(4): Yield from (3) will be divided into 2 parts:
(4.1): Distribute 20% to people who deposit UST.
(4.2): The rest will go to Anchor Vault.
(1): LUNA -> mint bLUNA
(2): bLUNA as collateral -> mint UST
(3): LUNA from (1) will be Stake to receive APY
(4): Yield from (3) will be divided into 2 parts:
(4.1): Distribute 20% to people who deposit UST.
(4.2): The rest will go to Anchor Vault.
Oh, and Kate Bingham is cousin to Rachel Johnson's husband. #HowItWorks
Bad enough that their cronyism keeps all the plum jobs for their pals. Worse by far that their pals are buggering the country up for the rest of us.
